Digital euro: the companies operating the system have been selected

The European Central Bank has selected Deutsche Telekom and Telefónica to provide the network infrastructure for the digital euro. They will offer services to payment providers and national central banks connecting to the digital euro system. A 12-month pilot program is set to launch in the second half of 2027, focusing on evaluating technical and operational conditions. The digital euro will complement cash rather than replace it. The contracts were awarded in temporary consortia with Nexi Payments and Indra Soluciones. Both providers will ensure connectivity between payment service providers and the central platform, with full services expected by 2029.